USD 11.87 billion
Report ID: SQSG45C2017 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 70 | Figures: 75
Global Security Paper Market size was valued at USD 11.87 billion in 2021 and is poised to grow from USD 12.68 billion in 2022 to USD 20.06 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).
The paper business is expanding now on a global scale. The demand for security paper for different goods, including certificates, checks, banknotes, passports, stamp paper, and identification cards, among others is likely to increase over the forecast period. The security paper market is growing as a result of several scams occurring more often each day. Government and other businesses, including banks and passport offices, strengthened paper documents to prevent fraud, which had a favourable impact on the market for security paper.
Traveling abroad has become more affordable because to rising living standards, which has increased demand for passports and visas. This is also one of the important contributing factors to the enduring expansion of the security paper industry. The security paper industry is undoubtedly being impacted by consumer groups' growing awareness of frauds and their increased demand for protection against counterfeiters.
The explosive expansion of the security paper market may be impacted by the increase in online banking activity and digitization. Glesecke+Devrient GmbH is the leading player in the security paper market. The company generates a revenue of around USD 237 billion from its operation across more than 33 countries.
US Security Paper Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 11.87 billion
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The global security paper market is segmented into application, security, and region. On the basis of application, the Security Paper Market is divided into passport/visa, banknotes and checks, identity cards, legal and authentication government documents, stamps, certificates, and others. The security paper market is divided based on security into four categories: water marks, holograms, hybrid paper, and colour pigments. On the basis region, the Security Paper Market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.
Security Paper Market Analysis by Application
The bank notes category is anticipated to expand significantly from 2022 to 2028. From a technological perspective, banknotes are the most complex and prestigious value security documents. The three most popular types of materials used to manufacture them are cotton-fiber paper, polymer paper, and hybrid paper. Bank notes have a good strength and tear resistance property as compared to standard paper, they last longer than paper notes and are fire and water resistant, specific kinds of polymers are now used to create them.
Security Paper Market Analysis by Security
By 2028, the hybrid paper segment is anticipated to have the biggest market share. Hybrid paper can have watermarks, threads, UV fibres, and UV printing. Due to these safety features that hybrid paper sheets offer, customers are utilising them more frequently. The use of such robust security characteristics is used to restrict fabrication techniques, which has increased demand for security paper globally. The development of the security paper industry has been significantly fuelled by technological developments like hybrid paper.
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In 2021, the Asia Pacific security paper market, which includes China and India dominates the market globally. It is anticipated that the Asia-Pacific security paper market would expand significantly. The sales growth for security features like watermarks and holograms that are incorporated during the printing stage of banknotes, passports, and stamps, the expanding tourism sector, economic stability, rising incomes, and infrastructure are all factors that have contributed to the growth of the security paper market in the Asia-Pacific region.
The expansion of the market in the region under study is also fueled by the rising demand for banknotes brought on by increasing population and the cash-based economies of some nations, such India and Indonesia.
According to the Chinese Ministry of Transport, there were 53 million more drivers in China in 2018 than there were the year before. This reduces the requirement for government permits, whose demand of security paper rose along with the demand for natural manufacturing resources like cotton and pulp.
In 2021, North America had the second largest portion of the global market. The United States is one of the biggest consumers of security paper market in the world. Growing consumer awareness is one of the reason, the security paper market in North America is predicted to increase significantly. The market is anticipated to expand at a moderate rate in Latin America.
In 2021, Europe had the third largest proportion in the global market. This market has been extensively developed in all of the Europe some major nations including Germany, Spain and United Kingdom, Russia, Italy and France. Germany and UK are expected to experience faster growth in the global security paper market then other European nation due to technical advancement in these two nation.
In the very near future, consistent growth rates are anticipated for the Middle East and Central and South America.
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Security Paper Market Drivers
Security Paper Market Restraint
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Due to the existence of both local and foreign suppliers, the market under study is fragmented. Players in the market under study are implementing new security features and sharing the current technology for mutual gain by utilising inorganic development techniques. The Fedrigoni Group and Giesecke+Devrient GmbH are main participants.
Top Players in the Global Security Paper Market
Security Paper Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we have found that greater range of applications will be possible for the product in the downstream market as a result of technological innovation and progress that will further enhance its performance. The various governments are looking for creative solutions for fresh technologies and approaches that might aid to make currency more secure and are anticipated to provide fresh options on the market in light of the rising number of counterfeit cases in various nations. Furthermore, the expansion of security paper is accelerated by the US tendency toward voting systems using paper ballots. The market analyzed with increased security is anticipated to grow as banknote value and volume rise on an annual basis, which tends to boost the growth in counterfeit of various denominations.
|Market size value in 2021||USD 11.87 billion|
|Market size value in 2030||USD 12.68 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Security Paper Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Security Paper Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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